Business
CSE positive in the wake of info on sovereign bond repayment by SL
By Hiran H.Senewiratne
Trading activities at the Colombo Stock Exchange became positive yesterday with the receiving of information that Sri Lanka is to make a bullet repayment on a billion US$ sovereign bond that is falling due this month (July) and which could maintain the country’s record of not having defaulted on debt, stock market analysts said.
It is said that the Central Bank said in a report they have confirmed and arranged funds to make a sovereign bond payment this month. This rings positive signals for the market, which resulted in the market travelling on a positive path, stock market analysts said.
At the beginning the market resumed in a sluggish manner due to heavy selling pressure. But the much talked about LOLC Development Finance or NIFL share price starting to decline is also one of the reasons for the market to be sluggish yesterday after the company going through a bizarre share price rise during the last few trading days. However, its shares started trading at Rs. 524.50 and during the day fell down to Rs. 393.50 and later settled at Rs. 454. NIFL is also index heavy.
Amid those developments both CSE indices moved upwards to positive territory. All Share Price Index went up by 17.95 points and S and P SL20 by 14.48. Turnover stood at Rs 1.78 billion with two crossings. Crossings were reported in HNB (Non Voting), which crossed 697,000 shares to the tune of Rs 76.7 million and its shares traded at Rs 110 and HNB ( Voting) 438,000 shares crossed for Rs 58.7 million, its shares traded at Rs 131.
In the retail market five companies that mainly contributed to the turnover were L.B Finance Rs 500 million (8.2 million shares traded), LOLC Holdings Rs 155 million (396,000 shares traded), Sampath Bank Rs 84.9 million (1.6 million shares traded)m HNB (Non Voting) Rs 78.9 million (718,000 shares traded) and Browns Investments Rs 66.5 million (11 million shares traded).
During the day NIFL stock prices moved down by 13 percent or Rs 70.50. However LOLC and Browns Investments were the main positive contributors to the All Share Price Index. Their share prices also increased, ie. LOLC share price increased Rs 9.50 or 2.5 percent, which moved its price to Rs 398 from Rs 388.50 and Browns Investments appreciated its share price by 20 cent or 3.4 percent. Its share price started trading at Rs 5.90 and at the end of the day it shot up to Rs 6.10. LOLC contributed 10 points and Browns Investments contributed 6 points respectively to the All Share Price Index during the day’s trading. It is said that 53 million share volumes changed hands in 15963 transactions.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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